Inside the Wall Street Journal: The History and the Power of Dow Jones & Company and America's Most Influential Newspaper

By Jerry M. Rosenberg | Go to book overview

CHAPTER 6
The Sixties and Beyond

I do not mean to sound prideful or arrogant but it is the truth that the American economy literaly could not function without an information such as the Journal.

WILLIAM KERBY, Dow Jones president

IN THE 1960 PRESIDENTIAL CONTEST between John F. Kennedy and Richard M. Nixon the Journal, exhibiting its usual Republician tendencies, favored Nixon. Kennedy's New Frontier promises were too far out of the line with the paper's philosophy:

Reliance on government is, indeed, the key to the New Frontier. More and more Government will solve all problems. The farm problem, for example, will be solve by taking over the farmers. . . . The nation is being offered the stagnant image of an outworn age--a New Frontier that looks increasingly like a dead end.

Nixon, on the other hand, was described as "not temperamentally a man who would charge into our established system to remake it to his own ends," implying, of course, that Kennedy was. The Journal's editor conceded that neither administration would be frugal, but said that Kennedy "likes to spend," it was his "answer for almost everything." On economic problems--always of prime consid

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